Sunday, September 26, 2021

What You Need To Know This Tax Season

In the next 7-10 days, property tax valuations for Southlake homeowners will arrive by mail from Tarrant and Denton Counties.  And because of all the change due to the COVID-19 social distancing orders, there are also adjustments to this year’s Tarrant and Denton County protest processes.

For Denton County homeowners, the appraisal notice will be mailed by April 29. For Tarrant County residents, notices are scheduled to be sent on May 1.

“For FY 2020, the City reduced the tax rate by 3.7 cents for a valuation of $.041 per $100,” said Sharen Jackson, Southlake’s Chief Financial Officer. “Homeowners also need to make sure their 20% homestead exemption is in place and, if applicable, the senior tax freeze, and an over 65/disability exemption of $75,000.”

Exemptions At Work

To apply for your exemptions, follow these simple steps.

Infographic showing steps to obtain a homestead exemption

 

 

 

 

 

 

 

CFO Jackson also said that the 20% homestead exemption for an average valued Southlake home ($740k) reduces the taxable value by $148k, an average a savings of $607.

For FY 2020, the tax rate went from $0.447 to $0.41, which results in additional savings of $222 for homeowners. Most of the rate ($.33) supports general city operations. The other portion of ($.08) pays down on debt that the City has issued to build public infrastructures such as roads, sidewalks, and public facilities. The City tax rate constitutes about 15% of the total tax levy in Southlake (depending on the school district).

Protest Information

Because of current social distancing guidelines, each appraisal district will handle protests differently this year. Both appraisal districts are encouraging residents to use their online protest systems and to create a user profile on the appropriate appraisal site.

If you live in Denton County, click here for Denton Central Appraisal District protest procedures. Denton County residents can create their user profile by using their Google, Facebook, or Twitter account. For more information, visit https://www.dentoncad.com/protestfaqs. The deadline to file a protest with Denton County is 30 days after the postmark on your appraisal notice.

The Tarrant Appraisal District has pulled together a news and FAQ page for property owners. They also advise taxpayers who are preparing to protest to activate their TAD.org online account now. The deadline to file a protest with Tarrant County is  June 1, 2020, or 30 days from the mail date listed on the notice, whichever is later.

If you have any questions, please call us at (817) 748-8042. If you prefer to contact your appraisal district directly, the numbers are below.

Tarrant County Appraisal District

2500 Handley Ederville Road

Fort Worth, TX 76118

(817) 284-0024

Denton Central Appraisal District

3911 Morse Street

Denton, TX 76202

(940) 349-3800

For more information about the City’s tax rate, please visit www.CityofSouthlake.com/TaxInformation

Public Hearing Notice On Denton Central Appraisal District 2013-2014 Reappraisal Plan

The Denton Central Appraisal District will hold a public hearing on their biennially reappraisal plan for the 2013-2014 appraisal year.  The public hearing will be held on September 13, 2012 at 3:00 pm at 3901 Morse Street, Denton, Texas.

REVALUATION DECISION (REAPPRAISAL CYCLE)
As required by Section 25.18 of the Property Tax Code, the Denton Central Appraisal District will provide
for the reappraisal of all real and personal property located within the district boundaries. It is the policy of
DCAD to reappraise all properties annually. The reappraisal year is a complete appraisal analysis of all
market areas in the district and each property owner will be noticed in compliance with section 25.19 of the
Texas Property Tax Code.
Market areas are broken down into geographical regions; Denton County has 5 distinct regions:

  • Region 1 includes the City of Denton
  • Region 2 includes rural land west of IH-35W and IH-35 and north of Loop 288 of the city of
  • Denton
  • Region 3 would be rural land in the eastern part of the county north of US Hwy 380
  • Region 4 includes south / central Denton County, from IH-35E west to IH-35W north to the city
  • of Denton
  • Region 5 includes the most active area of the county which would be the eastern part of the county
  • from IH-35E in the city of Carrollton north to the City of Frisco to US Hwy 380.

The market areas discussed above are further broken down into Residential neighborhoods, Commercial
improvement type segments, commercial land segments and rural land schedules.

The reappraisal calendar year begins the day after certification, usually around July 21st with data collection
and inspections continuing until February with market analysis and model calibration of the market regions
continuing until notices are mailed. Further analysis might be needed on any problematic areas that arise
during the informal and formal protest season until certification of the appraisal roll.